QUARTERLY RESULTS (Unaudited)

12 Months Ended

Dec. 31, 2021

Quarterly Results (Unaudited)

Quarterly results (unaudited)

NOTE 17 – QUARTERLY RESULTS (Unaudited)

The following tables set forth certain quarterly unaudited operating data for the fiscal years ended December 31, 2021 and 2020.  The unaudited quarterly information includes all adjustments, which the Company considers necessary for a fair presentation of the information shown (in thousands, except per share data):

	Fiscal 2021
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
Sales	$	3,090,899	$	3,465,601	$	3,479,570	$	3,291,493
Gross profit		1,640,795		1,826,378		1,818,240		1,734,536
Operating income		691,105		795,583		754,599		675,881
Net income		501,609		585,451		558,652		518,973
Earnings per share – basic (1)	$	7.13	$	8.41	$	8.14	$	7.71
Earnings per share – assuming dilution (1)	$	7.06	$	8.33	$	8.07	$	7.64

	Fiscal 2020
	First		Second		Third		Fourth
	Quarter		Quarter		Quarter		Quarter
Sales	$	2,476,487	$	3,091,595	$	3,207,638	$	2,828,773
Gross profit		1,295,906		1,637,180		1,680,468		1,472,138
Operating income		423,561		736,490		725,013		534,272
Net income		300,438		531,667		527,252		392,945
Earnings per share – basic (1)	$	4.00	$	7.16	$	7.13	$	5.45
Earnings per share – assuming dilution (1)	$	3.97	$	7.10	$	7.07	$	5.40

(1) Earnings per share amounts are computed independently for each quarter and annual period.  The quarterly earnings per share amounts may not sum to equal the full-year earnings per share amount.

The unaudited operating data presented above should be read in conjunction with the Company’s consolidated financial statements and related notes and the other financial information included therein.